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#GateRedBullRacingTour# - 📢 Gate releases its latest Reserve Audit Report!
💰 Total reserves: $10.453B
🟢 Excess reserves: $1.96B — ensuring full coverage and extra security for user assets.
Gate continues to uphold 100% proof-of-reserves and full transparency.
🔗 Read the full report: https://www.gate.com/zh/announcements/article/45617
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- #Gate Latest Proof of Reserves Reaches 10.453 Billion Dollars#
Gate has released its latest Proof of Reserves report! As of June 2025, the total value of Gate’s reserves stands at $10.453 billion, covering over 350 types of user assets, with a total reserve ratio of 123.09% and an excess reserve of $1.96 billion.
Currently, BTC, ETH, and USDT are backed by more than 100% reserves. The BTC customer balance is 17,022.60, and Gate’s BTC balance is 23,611.00, with an excess reserve ratio of 38.70%.The ETH customer balance is 386,645.00, and Gate’s ETH balance is 437,127.00, with an excess reserve
#SOL ETF Updates#
📌 Critical Update on Solana ETF Applications!
As we enter the summer of 2025, the ETF process for Solana (SOL) has officially gained momentum. Seven major asset management firms, including giants like Fidelity, Grayscale, VanEck, Franklin Templeton, 21Shares, and Bitwise, have resubmitted updated S-1 documents to the (SEC).
These applications focus on two important issues that the SEC is particularly scrutinizing:
🔹 Staking Returns: In new applications, systems are proposed to allow investors to benefit not only from price increases but also from SOL staking returns.
🔹 Token Delivery Mechanism (Redemption): The SEC is requesting "in-kind" methods to make the token redemption processes of ETFs more transparent and secure.
🧩 When Can ETF Approval Come?
🔸 According to analysts, the revised application meets the structural criteria that the SEC previously requested in the Bitcoin ETF process.
🔸 The expectation for Solana ETF approval is concentrated between July and September 2025.
But the process is not yet guaranteed. The SEC's ambivalence on staking may necessitate the return of some applications with additional regulations.
🇨🇦 Canadian printing is increasing
Unlike the U.S., Canada approved 4 Solana spot ETF applications in April 2025. These approvals based in Toronto create pressure on U.S. regulators and pose a risk of shifting investor interest to other countries.
📈 What Do the Markets Say?
The price of SOL has shown an increase of nearly 12% on a weekly basis due to ETF developments. Investors are particularly focused on any statements that may come from the SEC at the beginning of July.
Additionally, there is a noteworthy increase in open positions and volume in Solana futures on major exchanges.
🎯 Result: The Turning Point is Near
The approval of the Solana ETF could be a turning point not only in terms of price but also in how staking systems can be presented to institutional investors. For investors, these developments represent both short-term opportunities and long-term transformation.
#SOL#
#BTC#